Retirees Will be Hurt Most by Dividend Tax Hike, Says AMAC

‘Even if you don’t own dividend paying stock directly, income from other supplemental investments could be sharply reduced.’ -

BOHEMIA, NY, Dec 7 – Older Americans – particularly lower income seniors – need to brace themselves for a potentially sharp drop in earnings in 2013 if President Obama has his way and hikes taxes on dividend income, according to Dan Weber, president of the Association of Mature American Citizens – the conservative alternative to AARP.

“Even if you don’t own dividend paying stock directly, income from other supplemental investments could be sharply reduced.”

Dividend taxes will rise from 15% to nearly 40% under the administration’s current proposals “under the guise of forcing the rich to fork over more of their earnings to fund the government,” Weber said. “The only problem is that it’s the nation’s retirees who will suffer most of all.”

According to analysts, nearly half of seniors aged 65 and over receive dividend income to supplement retirement benefits. A Federal Reserve survey of consumer finances shows that retirees earning as little as $29,000 a year depend of dividends for 11% of their earnings and those earning between $30,000 and $49,000 a year rely on dividends for as much as 14% of that income.

“So, it’s not the rich who will suffer, it is those who can least afford the new taxes. In addition, if companies start relying on traditional solutions to higher dividend taxes, they will begin reducing their payouts. Again, it is those living on fixed incomes who will feel the pain,” Weber pointed out.

“Investors in the higher brackets will, in fact, benefit because, by reducing and/or cutting dividend payments, the valuation of the stock they own will likely increase. Bear in mind that rich investors can wait for the valuations to increase while the seniors who own the same stock need the quarterly dividend checks to sustain their lives,” he explained.

How far reaching will a rise in dividend taxes be? According to a new Ernst & Young study for the Edison Electric Institute released earlier this week: “Raising taxes on dividends would harm every American who owns dividend-paying stocks, as well as anyone who has an interest in a mutual fund, 401(k) plan, pension plan, or life insurance policy that invests in those stocks.”

NOTE TO EDITORS: Dan Weber is available for telephone interviews on this issue. Please contact John Grimaldi at 917-846-8485 or [email protected] to set up a chat.

ABOUT AMAC

The Association of Mature American Citizens [http://www.amac.us] is a vibrant, vital and conservative alternative to those organizations, such as AARP, that dominate the choices for mature Americans who want a say in the future of the nation. Where those other organizations may boast of their power to set the agendas for their memberships, AMAC takes its marching orders from its members. We act and speak on their behalf, protecting their interests, and offering a conservative insight on how to best solve the problems they face today.

About The Author

Daniel C. Weber founded the Association of Mature American Citizens in the summer of 2007. Dan Weber sees AMAC as a way to unite citizens to defend our American way of life. To enrich the lives of AMAC’s members, Weber has assembled a package of benefits and discounts for Americans 50+ that they can get nowhere else.

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2014 elections! All of us over 55 MUST VOTE those clowns who would vote to tax retiree dividends out of the Congress and tie Obama’s hands! If we don’t ALL turnout well then… forget it. We all did not vote last November…

I have worked all my life and paid into S.S., Medicare, Fed, State, Local, all the req. . I saved in a 401K, and later in a IRA. I was under the impression I was building, or at least partially building my retirement. Not further funding Gov’t assistance for the next- gen. or the young wanting to live on assistance. And we get a President (term used loosely), he is not my President, that increases assistance to the young able bodied, off the backs of people like myself. I will take my IRA out this year and pay 15%
taxes instead of a possible 25-40% next year, and stop earning dividends to which I would willingly support bad behavior of this administration. I will further explore ways to stop funding a defunct and ill run government. I’m 62 and more and more willing to quit working and stop paying taxes. Maybe see if i qualify for some of the gov’t.-assistance hand-outs, I’M THINKING I WON’T !! I’ll find that I fall just outside the GOV’T GUIDELINES for assistance. Also, I get no thank you, from the young-gen., for my lifetime of hard work to fund these programs that will carry them through their wasted lives and my wasted time and money. THANK ME, VERY MUCH.

If you have any savings, you likely won’t qualify for any government assistance. Of course, the government can always elect to copy what Argentina, another bastion of socialism did, which is nationalize the IRAs and other such retirement accounts. All in the name of “fairness” of course.

THE AMERICAN CITIZEN HAS TO WORK THEIR WHOLE LIFE AND AFTER PAYING IN TO THE SYSTEM HOPE TO GET THERE BENEFITS AT 62 OR 66.THE ILLEGAL ALIEN OR WELFARE LEECH OR PARASITE WHATEVER YOU WANT TO CALL THEM GET BENEFITS STARTING AT AGE 18 WHEN THEY CREATE 6 KIDS WITH 5 DIFFERENT BABY DADIES OR COME TO THIS COUNTRY ILLEGALLY. FREE RENT (SEC EIGHT ) FOOD STAMPS FREE CHILD CARE UTILITIES CELL PHONE AND MONTHLY STIPEND.THEY GET THESE BENEFITS THEIR WHOLE LIFE AND THE TAXPAYER HAS TO FUND THESE LEECHES.WHAT DOES THE TAXPAYER GET FOR PAYING FOR FUNDING ALL THESE FREEBEES HIGHER TAXES AND 1 PERCENT INTEREST ON YOUR SAVINGS ACCOUNT I THINK WE WERE ALL DUPED BY OUR GOVT.

Who has caused this Great Country of ours to be in such poor financial distress? You and me. I don’t think so. It is our very leaders that we have elected. The Congress and the President of the United States are the ones who have created this mess. And how do they plan on correcting this mess. They are penalizing the good, hard, working middle class. We are the heart and soul of our Country. Destroy us and this Country will be destroyed. Most of the people who voted for Obama give nothing back to this Country. All they want to do is take from the people who work hard and are proud to be Americans. This election proves one thing. There are more voters who are freeloaders than there are working class voters. We are doomed until we can get every decent, working class American to the polls and vote the current regime out of office. God Speed The United States Of America.

That’s what has already happened. Lower interest rates on CD savings came almost completely at the expense of local economies. Seniors who used to get that interest eat at local restaurants, go to local cultural events, spend their money on the grandkids. When that spending goes down, local businesses pay less taxes. Thus, the ‘neighborhood” becomes less interesting, less safe, and less able to attract the spending money they still have. So, the money that’s still left for spending is more likely to be spent on cruises and casinos instead. Multiply that effect by these “tax the rich” schemes….that money will come directly from local spending.

And we have no control over it. The “Republican-conservates” in the HOR are useless. How else can you you explain Boehner still being in a position to negotiate? As far as I’m concerned, Boehner’s caving on the debt ceiling along with Roberts crazy cave on ObamaCare are a bigger problem than is Obama. Obama did what we expected; our pretend conservatives continually let us down.

I am sorry but you will not be able to vote them out as long as George Soros is counting the votes. Electronic voting will cause the demise of our great Republic for it gives the elites a way to rig every election, and how can you prove it isn’t so. Promote paper ballots at least.

“What are the Obama followers going to say when we are ALL overtaxed and ALL are affected by the schemes to turn our America into a completely socialist country?”

Carol, the answer to your question is, they will say that the conservatives are the reason that things are going badly because the conservatives treated The Prescious badly and didn’t give Him the support that He deserved because conservatives are all racists and the ONLY reason ANYONE would not humbly obey The Precious is the color of His skin. And the faithful will beleave this because they know that all conservatives are full of hate and only care about the rich and privileged 1%.

Do you think that I am exaggerating? I am not; I am being dead serious. How do I know? Is it because I can predict the future? No, it is because I remember the past. The Precious’ excuse for His miserable incompetence has been that all of His problems are Bush’s fault (“I inherited the worst economy since the Great Depression caused by the failed policies of George Bush and blah, blah, blah, blah. . . “) He will probably not blame Bush quite as frequently as He has in the past, but no worries. He will have the Republicans to blame. And that will keep The Faithful content.

I am being a little whimsical in my language, but I am serious about what his tactic will be. It will be the same tactic that he has always used. And those groveling clowns who call themselves journalists will repeat it and the people will beleave it, just as they have for the past four years.

Someone please tell me that I am writing. I want to be wrong! But I’m not.

I believe if hard working Americans stop paying their taxes. I mean just adjust your W4 to show more dependents we will be paying less withholding and give the gov’t less cash flow. We can then tell them that we are not willing to pay outrages taxes to support the non workers. then file for tax filing extensions until the following October. The cash flow will dry up. What can they do but adjust spending down to the level of income like the families have to do. The only way we can protest is to cut off their income. Even the 16000 new IRS agents won’t be able to keep up collections.
Next we need a massive protest march in DC to tell them shape up or you will be taken out in the primary next election. We the people have to begin to take matters into our hands or we are all doomed.
Start to protest to the advertisers that run on the main stream media such as ABC, NBC, CBS, CNN and MSNBC. Right now the only way to defeat them is by money ours that we won’t spend on their products.
I have never believed in boycotts but now its for our survival.

What you’re describing by fudging your number of dependents won’t work. It’s called tax fraud and the IRS always wins. First the IRS will either slap you with a fine or seize your property for back taxes. So the IRS will get the money owed one way or the other. Remember the way the IRS works is you’re guilty until you can prove you’re innocent. One of the many wonderful things about how the IRS was structured.

The second point is that by 2014, if Obama moves as fast as I expect he will, elections will be largely symbolic events. Just like in many other socialistic countries. Everyone knows the leader and his minions will win re-election. The only issue is how big the “landslide” will be. By 2014, Obama will have instituted so many regulations and done so many end runs around Congress, that he will have made himself essentially an unaccountable ruler. Just look at all the executive orders and appointments he’s done in the last four years. Do we really have any idea what those 32 czars he appointed are busy doing every day. The EPA, HHS, NLRB and other federal agencies were holding back on literally thousands of new regulations until after the election. They admitted to such before Congress. All those new regulations are slated to start rolling out starting January 21.

As for “telling them in Washington to shape up”, who are you referring to? The Democrats are happy as hell right now, so there is no incentive for them to change. Their voter base are the people who cast votes based on who hands them a free Obama phone or additional food stamps. As for the GOP leadership, they are busy purging any conservative who doesn’t agree to tow the party line of being “more moderate” (Democrat-lite) in their voting pattern. So who are you hoping to influence in Washington these days? I get that you’re rightfully concerned about where the nation is going, but we need something a lot more powerful than what you’re suggesting. I just don’t know what that is at this point. Maybe some from AMAC can suggest a more prudent course of action we can take.

Howard Dean, former governor and presidential aspirant, admitted recently that everyone’s taxes need to be raised. He is the only public Democrat figure to tell the truth about what the Democrats really want to do. I fear many Republicans in Congress have become used to big government and, like Democrats, cannot imagine reducing the size of any programs let alone eliminating any government programs.

Yes, I’m sure Howard dean received a less than friendly phone call from Axelrod after his appearances on CNN, CNBC and MSNBC letting the truth out of the bag before the White House is prepared. Dean was even smiling about it, when he was mentioning raising taxes on everyone.

It is very disheartening to know that our representatives in congress know how we feel but don’t care. They only care about getting re-elected so they can continue to collect their ballooned salaries. I was listening to CNN this week and they talked about the reductions that will have to be made by those collecting Social Security but never once mentioned the people on welfare having to take a cut in their benefits or paying taxes on the money they get. These people have never paid into the system but believe they are ENTITLED to more money than most people who are working. There is really only one way out of the mess our legislators have gotten us into and that is to stop giving our resources away and start running our country like all households -

Obama doesw need to go but Im afraid we are stuck with him and his liberal ways Our country is no longer the the same U S A I grew up in. Remember in the last election half of the voters did not want obama so if I was him I would not feel to good about 50% of the people not behind him All this liberal thinking only want to take away our rights given to us by the constitution and make us slaves to a socialist government Ask any high school student if he or she is studying the constitution and you will be surprized with the answer. Our future will be full of a generation of people who will not know when the government has taken away all their rights and freedom. All their thinking will be done for them.The future will be spelled out for them. Im on social security and barely get by now they want to reduce it so they can have more to spend and put more into their and friends pockets with their pet probjects I have worked since 1966 and contributed my fair share to help support social security so I DEMAND that they leave us retired workers alone I earnedthis money and it is my right to collect my share a fair share untill I die We need to take back control of our government and once again have a government BY the PEOPLE ,and FOR the PEOPLE …………

Please help us fight Obama on taxing our dividends any more than they are. That’s what we depend on to carry us over with our Social Security.
Obama just needs to quit spending and quit going on vacations that cost the taxpayers. He needs to get rid of 2/3 of his Cjars as well as Michelle learning how to do a few things on her own. She’s the only Presidents wife that has had to have so many people waiting on her…..this includes her two daughters on the payroll.We truly need to get Obama out of the W H before the inauguration. It’s the middle class that gets the slaughtering and we can’t afford to keep everyone going when most of us are lagging ourselves financially. This guy has got to go before we have just the rich and the poor.

Sorry Shirley, but we’re stuck with Obama for the next four years and all the negative consequences that entails. The American people had a chance to end this nightmare on November 6th, but instead opted to give him another four years to finish trashing the country. Unfortunately, there are more idiots out there that believe in his hope and change nonsense, that is merely thinly veiled class warfare and envy politics, than there are people who realize what is necessary for this country to get back on the right track and put 23 million people back to work. Now we just have to live with the consequences as best as we can. It won’t be easy, but there is no other option. No one is going to swoop in and save us from Obama at this point. Just do the best you can.

Carol, in her post (above) asked, “Is an “Obama-phone” and a free ride worth forfeiting the America we once were proud of?” The bulk of our fellow citizens have given their answer; “yes! America? Who cares, just shut up and give my phone!”

Thomas Jefferson once commented that no law or document can preserve a peoples’ library, not even our magnificent constitution. The only thing that can preserve liberty, he said, is a population of free citizens who are prepared to fight for their freedom at any cost. That generation is passing into memory and being replaced by a generation of Americans for whom the hard and uncertain path of liberty is just too much trouble. After all, free men and women must work hard and steward their resources wisely so that they can handle life’s inevitable trials, like the need to plan how to pay for medical care when a family member became ill. It’s unfair to expect me to have to do that.

No, no; that is hard. All generations before us did it, but for me to do it will be hard, and won’t let me pursue my every whim and self-serving desire. Besides, anything that I need or want automatically becomes “a right,” and it’s just not fair to expect me to actually exert myself to enjoy my rights. Others should lay all I need in my lap. Just be sure to bring them to me quickly and lay them in my lap gently, lest you violate my newly contrived “right” to be free of any burden or responsibility.

You have said it well. Funny thing tho, I have some family on SSI and mixed racial that would not vote for Obama on a bet. Some people just did not vote for Romney after his remarks about everyone who gets a government check being (to paraphrase) leeches. They sort of felt after 40-50 years of hard work paying into soc. sec. that it was not just an entitlement. It upset me but I voted against Obama so i voted for Romney. I think he might have been good for this country even if he seems to have no clue about the blue collar crowd or even white collar that is not in his pay bracket. Obama is slick & managed to recover from his mistakes in the campaign by what ever means it took. And those who care were out voted by those without a clue.

If I am not mistaken, if Obama gets his way, the increase only applies to those with AGIs of over $250,000.00. This is really class warfare which will do the country no good and it will not solve the deficits problem since the extra tax on the rich will only run the federal government for 10 days at the most.. Where will all the rest of the revenue needed come from? We need to completely overhaul the tax code and establish very steep spending cuts. Printing more money only causes inflation which is really a hidden tax on the people, especially the poor and middle class.

This is standard socialism. It starts by attacks on one class, in this case those that Obama has targeted as “rich”, in order to gain acceptance of the majority who think his policies won’t affect them. Divide and conquer strategy 101. Then over time, as has been the case in every other country where socialism has been tried and failed, the target for additional taxes moves downward on the economic scale. The definition of rich will be modified to be $150,000, then $100,000, and so on until it is just above the $30,000 number the Democrats seem to think is the sweet spot for their voter base. At some point in the next two to three years, you can expect to hear that since revenues are not coming in to the government as expected, we have no choice but to increase taxes on everyone in the middle class.

Unfortunately, the four years ahead with Obama’s leadership vacuum will be darker than we wish. As said, we need to concentrate on finding a charismatic, conservative that can not only reach out to disheartened, non-voting Christians but also the Latinos. Right now, Rubio seems a good candidate but there will be others. Also, all Constitutional-leaning Supreme Court justices need to hang in there until 2016 (essential!). My concern is that Obama makes no bones about saying how he will ‘fundamentally transform America’ and will continue ‘bold steps’ (translated, ‘Progressive Agenda’) in the fashion of FDR to pull us out of this darkness. As you recall, FDR had 4 terms and still didn’t get it right — let’s not put it by Obama that he might try for the 3rd and 4th term — can’t even imagine what that would be like!! Our strife to overcome this will be difficult but not impossible. It will however be difficult since we are fighting not only the left but our own messaging, the mainstream media, Hollywood and whackos like Soros. At times like this, I think of how tough it must have been for all those American Revolutionaries who had to fight the Brits for our independence — little resources, dividedness in their own ranks and few communication tools. What they had though was the heart to continue to fight for what they believed in — freedom of religion — all of our rights began there. Please continue the noble fight and pray for the future of America and our children!

rubio, is not conservative as most of the GOP is not conservative….they are rino’s as most are for big government and not limited constitutional government..notice not many stand for the Republic…most refer to the USA as a democracy…not a Republic…a major mistake….

One of the major things we need to hope doesn’t happen is that Obama will be able to appoint one or more justices to the Supreme Court. If he gets that opportunity, then virtually nothing is safe anymore in the United States.

I voted for Romney because we needed and still need a smart business man who can turn America into a great economy. I didn’t vote for a know-nothing perpetual student who never dirtied his hands and was groomed by Saul Alinsky. obama (no typo) knows nothing about business or he would allow the “greedy” oil companies to drill for oil, thereby creating more jobs. As for taxes, o didn’t keep his promise of not raising them. He’s a liar and anyone who opposes him is called a racist! Now he’s asking for more stimulous!! No more and stop funding our enemies! No wonder they call us stupid Americans!!

I agree with all of you above. What is so mind-boggling, is the three million people that voted for McCain in 2008–they stayed home and did not vote! That was the higest realm of stupidity. What did they think was going to happen??? These same people truly didn’t care about their country, but rather themselves and their pride. We now have to look to 2014–we did it in 2010, and we can do it again. The middle class that will be hurt, will be liberals along with conservatives, and it is my prayer and hope that the so called liberals will open their eyes and begin to see the evil in our federal government.

Just remember, when the so called “rich” get taxed, we will all get taxed – indirectly. They will not absorb this tax. Companies can’t afford to absorb exorbitant expenses. It will be considered an expense of doing business and will ether attach what ever those fees are, onto the price of the products produced. Which are then passed along to the consumer for us to pay. Or they will be forced to cut major expenses, which are employees. The worst case scenario is that the company closes its doors because it can’t compete.

But then, that is what our President wants, more dependents equals more voters.
Prime example is the council woman in Detroit who is asking the President “where their bail out (for Detroit) is” because “they delivered the votes” for his reelection so why wont he deliver their bail out?

Roy, you are so right. Obama probably would not have won if not for the young peoples vote. In fact, anyone who voted for Obama gets exactly what they deserve, unfortunately the rest of us have to pay the price for the stupid ones among us.

Our children deerve what they’re getting, yes! But the greater share of this horrific debt will fall to our grandchildren. Each newborn American will now have $300,000 in debt to deal with. But the liberals don’t have to worry as they intend to abort their babies.

You cannot tax the rich. We always end up paying taxes for the rich. The rich add their tax bill to the goods and services they provide. The entitlers should not be allowed to vote and the country would heal itself.

What are the Obama followers going to say when we are ALL overtaxed and ALL are affected by the schemes to turn our America into a completely socialist country? The oil, coal, and gas reserves will become untouchable and the so-called “green energy” becomes the only energy supported by Americans tax dollars. Wake up, people!! Is an “Obama-phone” and a free ride worth forfeiting the America we once were proud of? Our founding fathers wrote the Constitution for our protection….not for someone to be elected to seize what is becoming absolute power. These czar appointments that take over the EPA and NLRB and others are designed to circumvent Congress and make
Checks and balances a thing of the past. The Supreme Court is supposedly the last branch of government to fall under Obama’s thumb. Stay tuned for the next take-over, citizens. This is merely the tip of the iceburg!

John: Lets hope he truly meets the same end as Hitler, but I fear they learned their lesson and have so weaken America by teaching the majority to be freeloaders that we will not see the end of this in our lifetime.

Let’s see……I thought it was only going to affect people that earned more than $250,000 dollars……reading between the lines it ok to tax the OTHER guy? The problem with new taxes is that it always has unintended consequences, always has and always will.

Elaine, generally it all depends on whether or not we go over the “fiscal cliff.” If you Google “tax increase 2013,” you’ll find websites with various scenarios. If the Bush era tax cuts are allowed to expire, we’ll all see higher taxes (dividends included), regardless of tax bracket.

These next four years will be scary times. The economy will not rebound under Obama’s policies. The makeup of the supreme court will flip flop under Obama because we are now at the tipping point. Moving the supreme court back in the right direction will take decades. The legislature behaves like we have an income problem when it is clearly a spending problem. Capitalism has outperformed Socialism every time throughout history; a lesson lost on our current Democratic (really Socialist/Marxist) leadership. Hope for a Republican victory in 2016 seems doubtful because the Republican party is split down the middle with all the conservatives pissed of (me included). Hillary is posed to be our next president. We must now fight an uphill battle to restore our constitution and Bill of Rights. I pray for a charismatic conservative leader in 2016 that everyone can rally behind. Keep up the faith and continue to battle these demons. Let’s not roll over now! It’s too bad that common sense in Washington isn’t so common.

The Federal Tax increases fund entitlement programs such as Family Assistance, WIC, HEAP, Medicaid, Section 8 housing and much more. These receipients do not pay anything into the program, unlike SSN and Medicare where recipients have worked for years and contributed to their benefits. But the 800 pound gorilla in the room is the hyperinflation and monetary devaluation possible when there are no more buyers for our bonds. Then all will be in trouble, especially seniors no longer able to “work their way” through the crisis.

i am hopeful that boehner wont cave to the demands of obama, when the conversations will be between the two of them, without the press, pelosi, reid, mcconnel or others in the room,( to put undue pressure on the decision makers.)..our country is in dire straits,such as i have not seen before and increasing taxes for yet another group of same old venues,obama’s pet green energy projects (solyndra and many more similar),more stimulus or bailouts for
continuous road repair, bridges to nowhere,(to keep his union personnel employed) more help for the indigenous, while taking money from those seniors, who contributed all of their working lives, into the system (to enable them to retire with some degree of self dignity) is not the way to improve this country’s economical standing. raising taxes will not hurt the rich, but will hurt just about every other aspect of our economy. john boehner needs to grow a backbone and stand for what he was put in office to do…the house controls the spending side of this equation.

I’ll tell you why we lost… the “conservative” white Christians stayed home because Romney wasn’t their perfect candidate so they didn’t vote at all.. Another reason is we are a bunch of wimps and don’t fight back. We are like a bunch of sheep and we are being lead by a Judas goat. What we need is about a hundred thousand of us to put our fatigues back on, grab our baseball bats and run into Washington and take our country back..

Maybe someone should look at both the 2008 and 2012 exit polls. Like any good Shepard,Obama knew his sheep. Project Vote was a huge success.it was pointed out who his campaign was going after and they did an excellent job of getting these groups to vote for Obama. Ron White once said,you can’t fix stupid. Maybe not,but you can fix ignorance if they that are ignorant are willing. ” If America is to remain a free nation,its citizens must become far more politically educated than they are at present.” G. Edward Griffin. ‘When the people find they can vote themselves money that will herald the end of the republic.” Benjamin Franklin.

Funny that Ben Franklin still speaks today! He also said “Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters.” We, all, need to take a long hard look at the elected “masters”.

Hate to break the news to you, but the Christians voted. The non-believers also voted—-for obama. the non-Christians have greatly increased in number and account for a large percantage of the obama voters. This is sad, but true, I did just read the percentage of unbelievers in today’s nation, though have forgotten what exactly it was, but it was high, like 38%, and it consisted of young persons.
Many of the “younger voters” do not believe in Jesus, and they are in tune and wish to live like Hollywood-in the depths of sin. Only difference is Hollywood never “believed, ” and most probably never will.
So now the younger voters just want obama’s handouts, which he gave prior to his re-election, but little do they know they will no longer get handouts, unless they continue in their laziness and not work.
As we know our nation was brought about for freedom of “faith,” which is diminishing with obama in dictatorship.

This “make the rich pay their fair share” has really gotten under my skin. Whatever happened to “Ask not what your country can do for you, ask what can you do for your country.” That about half of wage earners are not paying any federal income tax is just mind blowing. I seem to remember hearing that world wide, if you are making more than $35K or $37K, then you are in the top 1%. You also hear about some super wealthy that don’t pay any taxes. I’d like to suggest a Minimum Income Tax based on the Adjusted Gross Income on the bottom of your 1040 page 1. If it’s less than $100K, the tax would be 1%. For each $100K increment, the tax rate would rise 1%, until you got to 10%. On 1040 page 2 where you compute your tax, that rate would be reduced by the rate you paid on page 1. There would be no deductions that would apply to the Minimum Tax… everyone would be paying something… sounds fair to me!

I live in Michigan, I am happy that with Freedom to work legislation being passed my grandchildren may not have to move out of state to find jobs. I am convinced that we have to start locally to force change. Our national leadership is more involved with keeping their own job yhan in fixing our once GREAT country.

We are disheartened at the prospect of four more years of Obama, the poster boy of Sol Alinsky. However, we should look to the States that have elected Conservative Governors for real change. Who would have thought that Michigan would embrace “right to work” legislation.

I fail to understand how we as a nation elected 0bama again! Romney spoke of so many of these things that are now coming to fruition, nobody listened. He may not have been the best candidate, but I think his heart was in the right place and we would have greatly benefitted from his expertese. We are so stuck now and its really disheartening to think what damage will be done over the next 4 years.

Of course you are right, but the serious thought and course for future direction lies in why Romney was defeated. We all know the beyond the voter fraud (I live in PA, near Phiily, and it was amazing how much happened here) that one of the main reasons is because of how America(ns) have changed. We have gone from a country of makers, to a country of takers, and when the Govt promises to give out free things and money to people if Obama wins, it’s awfully hard to get people without pride, national wareness or conscience to vote against that. Like union members, if citizens would vote for what is best for the country, instead of themselves, their unions or political party, our nation would not elect liberals, and thiss country would thrive again. I dont know how to get back there except to explain the strength of our position one person at a time.

I Truly Believe That if this administration Had its way that there would be only 2 Classes The Rich and the poor Where the Government controls everything and in the near future old will become expendable..Except For those in High places

If the Obama administrtion spent OUR money on things that did some good, I might feel better about rising taxes but, so far, paying taxes is like pouring money down a drain pipe. Today’s politicians act like we work for them, not the other way around and, what’s even worse, they keep getting re-elected.

This is a perfect example of how government interference with the economy is counterproductive. By making the “rich” pay their fair share, the administration will only succeed in hurting those who can least afford it.